Milestone Elements™: What is CRM2 and why you should care?

What is CRM2 and why you should care?

Client Relationship Model 2, or the acronym known in the Canadian investment industry as CRM2, is a new level of reporting which is rolling out across Canada in 2017.  Specifically, investors can look forward to a much greater level of transparency on the fees that they pay and the rate of returns they are achieving.  Through our client quarterly review process we keep Milestone clients apprised of their rate of return frequently.  And, as over 90% of our accounts are fee-based, our clients have had account fee transparency for upwards of fifteen years.  The Canadian investment industry as a whole, however, has taken steps to ensure this level of reporting is rolled out across all industry broker dealers, in order to bring everyone into line, so to speak.  We at Milestone applaud this endeavor as it will provide greater clarity to investors and allow them to make more informed decisions as to the investment services they receive and guidance they take on their financial futures.